News Analysis

Who will be the next governor of the Bank of England? The market is waiting with bated breath for Chancellor George Osborne to announce the successor to Sir Mervyn King later today.

Crispin Odey, the founder of Odey Asset Management, and Pierre Lagrange, the co-founder and fund manager of GLG, have both made it into a list of the country's wealthiest hedgies.

Demand for gold coins and bars has fallen by a third, year on year, from a record high in 2011, according to the World Gold Council.

GLG's technology fund managers Philip Pearson and Anthony Burton have been adding substantially to their position in US giant Apple after a brutal sell-off recently saw it shed over 20% of its value.

TURKEY

Twenty-five years ago to this month, financial markets across the world went into freefall on a day that has come to be known as ‘Black Monday'.

The popularity of risk-rated funds has surged as RDR approaches and investors search for greater certainty in tough markets, but research has revealed vehicles sitting within the same risk grade can perform very differently.

In its latest quarterly inflation report, released today, the Bank of England has muddied the waters somewhat on its plans for further stimulus, leaving pundits wondering if a rate cut is on the cards.

Wealth manager Brooks Macdonald reported discretionary funds under management rose over 18% to £3.520bn at the end of June compared to a year earlier.

European stock markets have mirrored losses overnight in Asia and on Wall Street, despite the EU announcing it will hand Spanish banks €30bn of aid later this month.